Reported about 1 month ago
China is experiencing a deepening deflationary crisis that could jeopardize its economic recovery. Recent data indicates minimal consumer price growth outside food costs, with wages declining and corporate revenues suffering. Experts warn that this could lead households to cut spending further and delay purchases, exacerbating the economic downturn. Calls for immediate policy changes to combat deflation are growing among economists and former officials, highlighting the urgent need for effective measures to stimulate consumer confidence and spending.
Source: YAHOO